Are you a small business owner in the UK? Are you considering opening a small business but are unsure about the UK market? Read our list of the 10 Things You Didn’t Know About UK Small Businesses and see if it inspires you to start that small business that you have always been dreaming of.
- The number of women-owned UK small businesses grew by 54% over the past 5 years.
- Despite owning a sizable percentage of UK businesses, women attract only 5% of the country’s equity capital. And, when it comes to first-year funding, women received on average 80% less capital than men.
- Last year, there were 5.4 million private sector businesses in the UK, which is an increase of 3% since 2014.
- Last year in the UK there were 1,028 businesses per 10,000 resident adults.
- A large portion, almost 1/3 of UK businesses are in located in London or the South East with 976,000 being in London and 878,000 in the South East.
- The World Economic Forum and World Bank has the UK ranked number 6 of 189 in the world for ease of doing business.
- The internet represents a £19 billion business opportunity for small business owners in the UK.
- The number of foreign-owned businesses in the UK has decreased by 3% since 2009, but their contribution to UK value added has increased by almost 19%.
- Almost a quarter of foreign-owned businesses in the UK are owned from within the USA.
- Small businesses in the UK accounted for 99.3% of all private sector businesses at the start of 2015.
Offering jobs as well as goods and services, small to medium businesses are an important part of the UK economy. If you are looking to start a small business in the UK, do your research, get your funding and start attracting those customers today!